Bitdeer Technologies Group (NASDAQ:BTDR) Trading 3.7% Higher

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) were up 3.7% during trading on Wednesday . The company traded as high as $5.77 and last traded at $5.62. Approximately 121,100 shares were traded during trading, a decline of 93% from the average daily volume of 1,798,693 shares. The stock had previously closed at $5.42.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BTDR shares. Benchmark reissued a “buy” rating and set a $13.00 price target on shares of Bitdeer Technologies Group in a research note on Monday. Needham & Company LLC initiated coverage on Bitdeer Technologies Group in a research note on Monday. They issued a “buy” rating and a $14.00 price objective on the stock. B. Riley initiated coverage on Bitdeer Technologies Group in a research note on Tuesday, March 12th. They issued a “buy” rating and a $9.00 price objective on the stock. Roth Mkm initiated coverage on Bitdeer Technologies Group in a research note on Thursday, February 29th. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Bitdeer Technologies Group in a research note on Tuesday, March 26th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.64.

Bitdeer Technologies Group Stock Up 1.8 %

The stock has a fifty day simple moving average of $7.09 and a two-hundred day simple moving average of $6.54.

Institutional Investors Weigh In On Bitdeer Technologies Group

A number of hedge funds have recently added to or reduced their stakes in the business. UBS Group AG bought a new stake in Bitdeer Technologies Group in the third quarter worth approximately $35,000. First Trust Advisors LP increased its holdings in shares of Bitdeer Technologies Group by 8.9% during the fourth quarter. First Trust Advisors LP now owns 51,237 shares of the company’s stock valued at $505,000 after acquiring an additional 4,197 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Bitdeer Technologies Group during the third quarter valued at approximately $41,000. Barclays PLC bought a new stake in shares of Bitdeer Technologies Group during the third quarter valued at approximately $49,000. Finally, Wellington Management Group LLP bought a new stake in shares of Bitdeer Technologies Group during the fourth quarter valued at approximately $116,000. 22.25% of the stock is currently owned by institutional investors.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.